Business News of 2014-07-21

Forestry Commission seek funds

The Forestry Commission is seeking interest from private sector groups to support investment into a $323-million Accra eco-park project.

The Reverend David Kpelle, Business Development Manager of the Commission, said funding for the project would be obtained from public-private partnership arrangements and the Commission’s internally generated funds.

Under the arrangement, the private sector would have a 45 per cent stake while the Forestry Commission takes up the remaining 55 per cent in equity. Rev Kpelle was making a presentation on the project to Chief Mukuni, Head of the Mukuni Tribe of Zambia, who was on an official visit to the Commission in Accra to acquaint himself with the operations of the body.

“The Achimota Eco-Park Project is full of promise as a major Eco-Tourism destination. It will provide opportunities for unique nature-based recreational experience, job creation and revenue generation and thus will contribute to national development,” he said.

Rev Kpelle said the project would also help safeguard the ecological integrity of the Achimota forest, which has suffered encroachment and unauthorised developments. He said consultations with various stakeholders had been conducted and a project oversight and implementation committee had been set up to coordinate the project.

The Achimota Eco-Park, when completed, would comprise an amusement park, a cultural village, orchard, arboretum for research, a museum and a prayer ground for religious activities. Chief Mukuni said he was in the country to find how Zambia could support the Commission in its efforts to develop the Eco-tourism sector.

Source: GNA
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